Savoy, Illinois Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Savoy, Illinois rental market.
Savoy, Illinois
Average Apartment Rent
$1,385
Y-o-Y Change in Average
Apartment Rent
2.8%
As of March 2026
Compared to a year ago, Savoy, Illinois apartments have recorded a 2.8% rent increase.
Savoy, Illinois Average apartment rent trend
Savoy, Illinois Average Apartment Rent
Savoy, Illinois Apartment rent ranges
At 55.47%, apartments priced $1,000 - $1,500 represent the bulk of Savoy, Illinois rentals, while condos priced $2,000 - $2,500 hold the lowest share of the market – 6.86%.
Savoy, Illinois Housing tenure**
Renters take up 43% of Savoy, Illinois real estate, occupying a total of 1,476 units, while homeowners live in 1,989 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$50,772
Average household size of renter-occupied housing units**
2.2
Rental vacancy rate**
8.3%
Savoy, Illinois Renter-occupied housing units by no. of bedrooms**
There are 649 rentals in Savoy, Illinois with 2 beds making up the highest share of the market, at 44%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 24 units. Overall, the median number of rooms in Savoy, Illinois homes for rent is 4.
Savoy, Illinois Renter-occupied units by age of householder**
Most condos for rent in Savoy, Illinois are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 85 years and over age group (15%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 2%.
Savoy, Illinois Renter-occupied housing units by family type**
Savoy, Illinois Renter-occupied housing units by the presence of own children**
A total of 536 apartments for rent in Savoy, Illinois, or 36% of all rentals are family households. Additionally, 19% of rental homes include children under the age of 18 – that’s 286 units. All in all, the median size of a renter-occupied household in Savoy, Illinois is 2.2.
Savoy, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 53% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Savoy, Illinois.
Savoy, Illinois Renter-occupied units by year structure built**
The highest share of Savoy, Illinois apartment rentals, namely 27% or 401 units, were Built 2000 - 2009, followed by those Built 1990 - 1999 (24%, 350 units), and the ones Built 1970 - 1979 (19%, 279 units).
Savoy, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Savoy, Illinois renters (41%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Savoy, Illinois condos for rent is 2018.
Savoy, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 63% of Savoy, Illinois renters have 1 vehicle available per household, 19% of them have 2 vehicles available, and 14% have No vehicle available.
Savoy, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Savoy, Illinois Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Savoy, Illinois apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
